European Journal of Business and Management ISSN 2222-1905 (Paper) ISSN 2222-2839 (Online) Vol 4‚ No.1‚ 2012 www.iiste.org Earning Management and Dividend Policy: Empirical evidence from Pakistani listed companies Jahanzaib Haider (Corresponding author) Bahaudin Zakariya University‚ Multan Sub-Campus‚ Dera Ghazi Khan‚ Pakistan. Tel: 92-331-3312626‚ E-mail: haider_jahanzeb@yahoo.com Akbar Ali Bahaudin Zakariya University‚ Multan‚ Sub-Campus‚ Dera Ghazi Khan‚ Pakistan. Tel: 92-331-7304678‚ E-mail:
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of the widespread applicability of the information contained in the accounting process‚ honest reporting is critical. History has proven repeatedly that the temptation exists to manipulate figures for personal gains and corporate malfeasance. This paper will identify agencies that regulate accounting practices and briefly discuss the basic concepts and principles of accounting. Regulatory Agencies The Public Company Accounting Oversight Board is a five-member‚ SEC-appointed board‚ created as
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Mensa‚ INC. (A fictional company) Mensa‚ Inc. was a firm with a long and uneven history. It was started in 1974 and at one time or another had been a competitor in more than two dozen industries with varied success. Each of the several CEOs had developed a different strategy and over the decades the firm had had many manifestations. The only real constant in Mensa’s strategy had been a commitment to the packaging business in its several forms. But‚ even in this business there had been any number
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under construction. The importance of these two financings for two types of development; i.e. Sell Then Build (STB) and Build Then Sell (BTS) can be illustrated as below:- STB (e) Money 0 Time End Finance (b) BTS (i) POSITIVE CASH FLOW (+) (a) (g) (d) (f) (ii) (c) (-) Bridging Finance Brief explanation on the graph for the two types of
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D) current assets minus current liabilities. 5. The ________ is the time period that elapses from the point when the firm makes the outlay to purchase raw materials on account to the point when payment is made to the supplier of the goods. A) cash conversion cycle B) average payment cycle C) average production cycle D) average collection cycle 6. A
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increased its cash holdings to be in excess of $1.5b through various management initiatives. However this $1.5b has only shown investors a 4.25% growth which translates to $0.10 earnings per share pre-tax. This is in line with the company’s history of conservatism. Looking ahead the company does seem to have requirements to build a new fabrication facility as their facility is aging and is nearing its effective use in its life cycle and will cost around $200m. Linear seems to have enough cash on hand
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convert sales dollars into profits and cash flow. Solvency ratios indicate financial stability because they measure a company’s debt relative to its assets and equity. Two common efficiency ratios are inventory turnover and receivables turnover. Business manager needs to determine what the financial health of the firm‚ he would use liquidity ratio. A business needs to figure out how to pay off the debt to the bank‚ they would use solvency ratio. A company makes paper plates; they need to know how much
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Cash Budget Problem Answer the following questions using the information below: The following information pertains to Hepburn Company: Month Sales Purchases January $60‚000 $32‚000 February $80‚000 $40‚000 March $100‚000 $56‚000 ∙ Cash is collected from customers in the following manner: Month of sale 30% Month following the sale 70% ∙ 40% of purchases are paid for in cash in the month of purchase‚ and the balance is paid the following month. ∙ Labor costs are 20% of sales. Other
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Highway Café Table of Contents Table of Contents 2 Executive Summary 3 The Business 5 Industry Analysis 7 The Market 8 The Organization 13 Financial Reports and Calculations 15 Summary 24 Reference List 25 Executive Summary The Highway café will be a full service café located in Brighton Road in Glenleg‚ South Australia. The cafe features will have a complete menu that will be reasonably priced for all ‘comfort food’ primarily from American and French menus. The sections within
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CHAPTER 10 Cash Flows and Other Topics in Capital Budgeting ANSWERS TO END-OF-CHAPTER QUESTIONS 10-1. We focus on cash flows rather than accounting profits because these are the flows that the firm receives and can reinvest. Only by examining cash flows are we able to correctly analyze the timing of the benefit or cost. Also‚ we are only interested in these cash flows on an after tax basis as only those flows are available to the shareholder. In addition‚ it is only the incremental
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